BOC Aviation Leases 14 Boeing 737 MAX 8s to TUI

BOC Aviation has announced a significant lease agreement with European travel conglomerate TUI Group for 14 Boeing 737 MAX 8 aircraft. Scheduled for delivery between 2025 and 2026, these new planes will be powered by efficient CFM LEAP-1B engines. The addition of these aircraft will enhance TUI’s operational capacity across its airlines, further expanding its modern fleet.

Steven Townend, Chief Executive Officer and Managing Director of BOC Aviation, expressed enthusiasm about the renewed partnership with TUI. He highlighted that collaborating again with TUI as they grow their fleet of next-generation aircraft will contribute positively to BOC Aviation’s investment and revenue streams over the coming years.

As one of the world’s oldest operators of the Boeing 737, TUI Group will integrate these additional jets into its existing fleet of over 40 Boeing 737 MAX aircraft. The group’s airlines currently operate the 737 MAX across several subsidiaries: TUI fly Germany with seven aircraft, TUI fly Belgium with five, TUI fly Nordic with three, TUI Airways in the UK with 21, and TUI fly Netherlands with six. TUI’s long-standing relationship with Boeing dates back to 1968 when its predecessor, Britannia Airways, received Europe’s first Boeing 737-200 at London-Luton Airport.

TUI Group has evolved into a leading global tourism enterprise, encompassing multiple integrated tour operators. Under the TUI umbrella are 1,600 travel agencies and online booking platforms, five airlines with around 150 aircraft, over 400 hotels, 15 cruise ships, and a presence in all major holiday destinations worldwide. This extensive network enables TUI to offer comprehensive travel services to millions of customers globally.

BOC Aviation, headquartered in Singapore, is a prominent global aircraft operating leasing company. As of September 30, 2024, its fleet comprised 693 aircraft owned, managed, and on order, leased to 93 airlines across 48 countries and regions. The company is listed on the Hong Kong Stock Exchange and maintains offices in Dublin, London, New York, and Tianjin, reflecting its widespread international operations.

The lease agreement signifies a strengthening of the relationship between BOC Aviation and TUI Group, underscoring a mutual commitment to modernizing fleets with fuel-efficient aircraft. The Boeing 737 MAX 8, equipped with CFM LEAP-1B engines, offers improved fuel efficiency and reduced emissions, aligning with industry goals for sustainability and environmental responsibility.

This strategic move allows TUI to enhance passenger experience and operational efficiency by meeting growing travel demand with modern aircraft. The integration of additional Boeing 737 MAX 8s is expected to support TUI’s expansion plans while maintaining high service standards across its network.

The partnership between BOC Aviation and TUI Group is poised to contribute significantly to both companies’ growth in the global aviation market. As they navigate the evolving dynamics of the industry, this collaboration highlights a shared vision for innovation, efficiency, and customer satisfaction.

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